$463K-Per-Apartment for Brick Building in Greenwood Heights January 22, 2018

Connect Media | January 29, 2018

A local investor paid $3.7 million for a four-story building with eight apartments at 337 18th St. in Brooklyn’s Greenwood Heights neighborhood, between Park Slope and the historic Greenwood Cemetery. That works out to a price of roughly $463,000 per apartment.

“The new owner intends to hold onto the asset for the long term, and invest in capital improvements to maximize his return,” said Sylvia Spielman of GFI Realty Services, who represented the buyer in the transaction. Shawn Sadaghati, also of GFI, represented the seller, also a local investor.

None of the apartments are subject to rent regulation at the walkup building. A two-bedroom apartment recently rented for $2,900 a month, according to StreetEasy.